TIAA’s Nuveen Real Estate plots massive expansion in multifamily market

Nuveen Real Estate, a global real estate investment manager owned by TIAA, is planning a significant expansion of its multifamily real estate business in the U.S. Nuveen announced this week that it launching what it calls the “U.S. Cities Multifamily Fund,” a real estate investment vehicle that just closed on its first investment round, which raised $550 million to invest in multifamily real estate.